Buying Bitcoin

joep2

One option is to transfer money to Revolut and onwards to Coinbase or your preferred exchange. My bank has a transfer limit of 10k a day and it’ll take a few days to buy a whole bitcoin. 

valiant24

Aretnap said:

masonic said:

Then prepare for the headache of trying to get a UK bank to receive the proceeds of your activities some years down the line.

Of course depending on what happens in the world of crypto, this might not turn out to be much of an issue. 

Well, quite :-)

Scottex99

Coinbase, Kraken, Revolut, eToro. Some better on fees than others. There’s also OTC desks where generally the min trade is 25k.

I would say I’ve heard of most exchanges in UK and never come across bittylicious. Website looks terrible from the 3 mins I looked at it from my phone. IOM
based, which is fine in itself. 

Did a 5 minute google and didn’t find anything awful but trust me there are much more reliable looking sites out there. How did you even find them?

valiant24

Scottex99 said:

...
I would say I’ve heard of most exchanges in UK and never come across bittylicious. Website looks terrible from the 3 mins I looked at it from my phone. ... How did you even find them?

Recommended in a "Bitcoin 101" article on a tech website as I recall.   This was several years ago.   But as I say, daggy website or not, they've been rock-solid thus far.

Scottex99

Fair enough, checked the website again and looks like something from 2011.

Multiple red flags imo.

But if they’ve completed a trade for each deposit you’ve sent them and settled back to a wallet that you control, then fair enough 

pecunianonolet

Despite the fact, that you are a bit late with your investment given the recent bull run, due to I guess ETF certification in the US, you may still expect further gains due to the upcoming halving towards end of April. 

Not used it myself but perhaps worth some further investigation to trade with the stock exchange in Stuttgart, Germany. CTG and HMRC will be watching you now closer than ever but I am sure you know all that ;-)

https://www.boerse-stuttgart.de/en/investing/get-started-with-cryptocurrencies/
https://www.bsdex.de/en/

Not sure if https://traderepublic.com/en-de allows accounts for UK based investors

RealWelshWizard

New to crypto , what is the best company to start with - binance / coinbase etc? 

pecunianonolet

RealWelshWizard said:

New to crypto , what is the best company to start with - binance / coinbase etc? 

Stay away from Coinbase, their fees are daytime robbery. Only use if not listed on Binance or elsewhere. 

chucknorris

valiant24 said:

Not looking for any advice on whether it's a good idea or not thanks ...

I want to buy a significant amount of Bitcoin, say tens of thousands.   It's not easy!   My main bank, First Direct, has limits (supposedly £2,500 in any one transaction and £10,000 in any 30-day period); and I read that Chase, where I also have an account, won't allow them at all!

So if the banks won't facilitate significant payments how does one set about buying a large amount?

Thanks
V

I am surprised at the limits that you stated for First Direct, after selling investment property on several occasions I have transferred £100,000 to HL numerous times in a single transaction. It is one of the things that I particularly like about FD, my wife has had many issues over the years with various other banks trying to do the same thing.

wjr4

400ixl said:

Hate to even suggest it as they are the most unethical of  institutions on the planet, but what about doing it via Revolut?

Why are they unethical?